Infosys now stable and on path to growth, chairman says
Infosys chairman Nandan Nilekani has endorsed the company as 'safe and stable', saying its new strategy has clearly outlined the way forward
Infosys is now safe and stable under its new CEO Salil Parekh, chairman Nandan Nilekani has said.
In a letter to shareholders, Nilekani said the company was better placed after months of turbulence and its new strategy has “clearly outlined the way forward for us”, reports Times of India.
Parekh has laid out a three-year transformation to bring Infosys up to speed. He plans to boost the group’s digital business, focus on artificial intelligence and automation in client interaction, increase localization and boost employees’ skills.
In a note in the firm’s annual report, Parekh said the company’s clients were in different stages of their digital journey and Infosys was helping them navigate. He noted that in fiscal 2018 some $2.79 billion in revenue came from digital services.
A CapGemini veteran, Parekh has so far refrained from disrupting the management team with outside hires, a strategy in contrast with that of his predecessor Vishal Sikka, and this has gone down well with employees.
Infosys has projected modest growth outlook for the current fiscal year and lowered its operating margin to 22-24%. The company ended the last fiscal year with a margin well above 24%.